Ministry of Industry, Trade and Investment said it has begun disbursement of the Presidential Conditional Grant Scheme to verified applicants after an exhaustive selection process.
The government, through the Bank of Industry, had said it would be disbursing three categories of funding to the tune of N200 billion to support manufacturers and businesses across the country.
In a progress report posted on X (formerly Twitter) handle, yesterday, the Minister of Industry, Trade and Investment, Doris Aniete, stated that an unspecified number of beneficiaries had received their grants, adding that by Friday, April 19, another significant disbursement will be made to a substantial number of verified applicants.
She said: “We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced. Some beneficiaries have already received their grants, marking the beginning of our phased disbursement strategy.
“By Friday, April 19, 2024, a significant disbursement will be made to a substantial number of verified applicants. It is essential to understand that disbursements are ongoing, and not all applicants will receive their grants on this initial date. However, be rest assured that all verified applicants will eventually receive their grants in subsequent phases.”
This is coming more than eight months after President Bola Tinubu announced the grant for manufacturers and small businesses and two weeks after applicants were directed to submit their National Identification Numbers (NIM), as part of the requirements to obtain the grant.
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